REGISTERED NUMBER: 03552143 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2024

FOR

SKELTON PLANT HIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T J Skelton

SECRETARY:

Mrs D Skelton

REGISTERED OFFICE:

Skelton Plant Hire Limited

Cooting Road

Aylesham

Canterbury

Kent

CT3 3EP

REGISTERED NUMBER:

03552143 (England and Wales)

ACCOUNTANTS:

Spain Brothers & Co

Chartered Accountants

Westgate House

87 St Dunstans Street

Canterbury

Kent

CT2 8AE

FIXED ASSETS

Intangible assets

4

601

901

Tangible assets

5

5,681,742

6,676,181

5,682,343

6,677,082

CURRENT ASSETS

Stocks

6

130,446

48,946

Debtors

7

624,199

569,595

Cash at bank and in hand

38,475

69,051

793,120

687,592

CREDITORS

Amounts falling due within one year

8

2,284,180

2,834,672

NET CURRENT LIABILITIES

(1,491,060

)

(2,147,080

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,191,283

4,530,002

CREDITORS

Amounts falling due after more than one year

9

1,852,086

2,221,393

NET ASSETS

2,339,197

2,308,609

CAPITAL AND RESERVES

Called up share capital

11

904,100

904,100

Revaluation reserve

12

10,000

10,000

Retained earnings

12

1,425,097

1,394,509

SHAREHOLDERS' FUNDS

2,339,197

2,308,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th November 2025 and were signed by:

T J Skelton - Director

1.	STATUTORY INFORMATION

Skelton Plant Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The company's functional currency is the Pound Sterling (£).

The principal activity of the Company is that of hire of plant, machinery and operators to the Construction Industry.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transactions will flow in the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Government Grants

Government grants have been received by the company in the year. Grant income is not recognised until there is reasonable assurance that the entity will adhere to the conditions which are attached to the grant. There must also be reasonable assurance that the grant will be received by the entity in order to recognise the grant in the financial statements,

The accounting policy for recognising grant income adopted by the company is the accrual model:-

Revenue-based grant

Grant monies receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the company with no future related costs have been recognised in the period in which they are received or become receivable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Buildings

- not provided

Plant and machinery

- 15% Reducing Balance Method

Equipmentt

- 15% Reducing Balance Method

Motor Vehicles

- 20% reducing Balance method

The Company does not provide for depreciation on freehold buildings as required by Financial Reporting Standard 102. It is considered, however, that non-compliance with the Standard does not have a material effect on the Financial Statements since it is the company's policy to maintain its freehold buildings to a standard which will prolong their useful life indefinitely and hence make any charge for depreciation immaterial.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st December 2023

and 30th November 2024

6,001

AMORTISATION

At 1st December 2023

5,100

Charge for year

300

At 30th November 2024

5,400

NET BOOK VALUE

At 30th November 2024

601

At 30th November 2023

901

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Buildings

machinery

Equipment

vehicles

Totals

£

£

£

£

£

COST

At 1st December 2023

100,000

8,912,714

833,503

898,514

10,744,731

Additions

-

101,500

26,435

5,100

133,035

Disposals

-

(668,791

)

-

-

(668,791

)

At 30th November 2024

100,000

8,345,423

859,938

903,614

10,208,975

DEPRECIATION

At 1st December 2023

-

3,192,177

514,967

361,406

4,068,550

Charge for year

-

544,508

52,671

54,220

651,399

Eliminated on disposal

-

(192,716

)

-

-

(192,716

)

At 30th November 2024

-

3,543,969

567,638

415,626

4,527,233

NET BOOK VALUE

At 30th November 2024

100,000

4,801,454

292,300

487,988

5,681,742

At 30th November 2023

100,000

5,720,537

318,536

537,108

6,676,181

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

Equipment

vehicles

Totals

£

£

£

£

COST

At 1st December 2023

5,815,717

151,655

339,001

6,306,373

Disposals

(533,561

)

-

-

(533,561

)

Transfer to ownership

(752,447

)

-

-

(752,447

)

At 30th November 2024

4,529,709

151,655

339,001

5,020,365

DEPRECIATION

At 1st December 2023

1,172,865

50,889

31,382

1,255,136

Charge for year

374,192

15,115

30,762

420,069

Eliminated on disposal

(148,015

)

-

-

(148,015

)

Transfer to ownership

(190,105

)

-

-

(190,105

)

At 30th November 2024

1,208,937

66,004

62,144

1,337,085

NET BOOK VALUE

At 30th November 2024

3,320,772

85,651

276,857

3,683,280

At 30th November 2023

4,642,852

100,766

307,619

5,051,237

6.

STOCKS

2024

2023

£

£

Stocks

130,446

48,946

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

617,976

513,829

Other debtors

-

18,407

Directors' loan accounts

-

32,848

Prepayments

6,223

4,511

624,199

569,595

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

88,484

10,000

Hire purchase contracts

676,580

1,789,825

Trade creditors

229,945

203,116

Social security and other taxes

53,666

45,700

VAT

735,444

414,827

Other creditors

14,622

3,497

Commercial Finance

470,739

354,707

Accrued expenses

14,700

13,000

2,284,180

2,834,672

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Fixed Rate Loan - 1-2 years

5,000

10,000

Fixed Rate Loan - 2-5 years

-

5,000

Other Loan

57,579

172,914

Hire purchase contracts

1,789,507

2,033,479

1,852,086

2,221,393

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdraft

78,484

-

Hire purchase contracts

2,466,087

3,823,304

2,544,571

3,823,304

The Bank Overdraft is secured by a Debenture incorporating a fixed and floating charge.

The Hire Purchase contracts are secured over the asset concerned.

The Lloyds Bank Plc Bounce Back Loan is guaranteed by the government.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary A

£1

100

100

904,000

Ordinary B Non - Voting

£1

904,000

904,000

904,100

904,100

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1st December 2023

1,394,509

10,000

1,404,509

Profit for the year

30,588

30,588

At 30th November 2024

1,425,097

10,000

1,435,097

13.	OTHER FINANCIAL COMMITMENTS

Pension

The company contributes to personal pension plans for each individual employee. The amount outstanding at year end amounted to £14,622 (2023: £3,497).

14.	GOING CONCERN

The Financial Statements have been prepared on a going concern basis. This basis may not be appropriate because the Company is showing net current liabilities of £1,491,060 (2023 £2,147,080) as at 30th November 2024. The Company therefore relies upon the continued support of the Director and his family.

The Director is satisfied this continued support will be forthcoming. Therefore the Director considers it appropriate to prepare the financial statements on the going concern basis.